The ‘official’ memecoin of the second Donald Trump administration will be listed on major cryptocurrency exchanges, including Coinbase and Binance, according to announcements from the companies.
Coinbase wrote on Sunday that it plans to list the TRUMP token. The announcement came via its Coinbase Assets X account, which provides information about new assets, but the exchange did not provide a concrete timeline for listing.
Binance said it plans to open trading for the TRUMP token on the morning of January 19. The token is already traded on many other centralized exchanges, such as Bitget, KuCoin and Kraken, according to CoinGecko.
On-chain data shows that the token has a market capitalization of just over $7.6 billion and a trading volume of approximately $15 billion.
While many of the biggest crypto exchanges have eagerly embraced Trump’s official memecoin, the first Trump-themed token, one of the original Political Finance (PoliFi) tokens, had trouble getting listed on exchanges.
As CoinDesk reported earlier this year, ByBit and OKX rejected the team’s application to list the token given concerns that the project was too political. Kraken did not respond to their application to be listed and would not discuss the matter on the record.
The first Trump token, Ethereum-based MAGA, is down 84% from its June high of $17.80, according to CoinGecko, but remains actively traded.
MAGA tanked hard after the launch of the official Trump token, falling from $3.50 to $1.44 over the weekend, with its market capitalization dropping from $158 million to $64 million. The token has slowly recovered from the initial drop, likely due to general interest in Trump-themed tokens on the eve of the inauguration.
TRUMP’s tokenomics has been criticized by many online who have pointed out that 80% of the token supply is controlled by wallets owned by CIC Digital.
$TRUMP made memecoins worse than VC backed coins by a wide margin.
The Donald Trump Revocable Trust owns 100% of CIC Digital, which has been awarded 80% of the supply of the new memecoin launched by @realDonaldTrump.
The same company was also behind Donald Trump NFTs. pic.twitter.com/RI2Y2wgy8W
— hitesh.eth (@hmalviya9) 18 January 2025
CIC Digital LLC is the Trump Organization affiliate that launched Trump Non Fungible Tokens (NFTs) in 2023. Data from OpenSea shows that there is a second wave of interest in these NFTs with over 2,800 sales within the last 24 hours worth over 765 ETH ($2.5) million).
